In our series on implementing a compensation management solution, we’ve gone over the first three major phases: analysis, development, and communication. We’ve looked at how the system takes shape over time, and how vital communication between the vendors and clients...
Our last two blog posts covered the first two phases of the implementation process for a compensation management tool – analysis and development. Specifically, these posts went over the expectations placed on both parties, and the role communication plays in making...
In the last blog post we went over the first step in implementing a compensation management tool, which is needs analysis. Specifically, we talked about the importance of open communication between the client and developer. The necessity of this communication becomes...
If your organization is seriously considering a compensation management solution, you’ve (understandably) got a number of questions. A lot, if not most of these, center around the implementation process. How long is it going to take to develop the system? How much...
Handling promotions is one of the many things managers deal with in their line of work. Though it’s not something that comes up incredibly frequently, generally occurring annually or semi-annually, it’s still an important task. Promotions are useful for rewarding...
One of the largest problems with using spreadsheets for compensation is user errors. No matter how vigilant you try to be regarding how accurately you input and manipulate compensation data, the potential for error still looms over the compensation process. One...
Merit pay is a concept that makes a lot of sense – in theory. Its execution can be quite a bit trickier, however. Recognizing and rewarding top performers is a fantastic way to motivate these employees, as they feel as though they’ve earned their increase through...
Technology has afforded us a lot of comfort as it has advanced. What once required a library or encyclopedia set to find is now literally available at one's fingertips at a moment's notice. If you wanted to rent a movie you had to go out to the local video rental...
One of the more interesting types of employee compensation is the variable pay program. According to a 2012 report by World at Work, 84% of respondents indicated that their organization uses variable pay (up from 80% in 2010). When you stop to think about some of the...
The word “automation” may make you think of some futuristic technology that hasn't been invented yet. Automation, however, has already added a lot of convenience and utility to modern-day life. Among the many ways that automation has contributed to our lives is in...
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